HC Wainwright assumed coverage on shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 68.49% from the stock’s previous close.

A number of other brokerages have also recently commented on OMED. Mizuho upped their target price on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 26th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of OncoMed Pharmaceuticals in a report on Wednesday, June 8th. Jefferies Group upped their target price on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $19.38.

Analyst Recommendations for OncoMed Pharmaceuticals (NASDAQ:OMED)

OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 11.87 on Thursday. The company has a 50-day moving average of $11.08 and a 200-day moving average of $11.66. OncoMed Pharmaceuticals has a 52 week low of $8.42 and a 52 week high of $23.98. The stock’s market capitalization is $364.06 million.

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OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The company earned $6.67 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same period last year, the firm earned ($0.72) earnings per share. OncoMed Pharmaceuticals’s revenue was up 42.2% on a year-over-year basis. Analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BVF Inc. IL raised its position in shares of OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock worth $13,541,000 after buying an additional 347,903 shares during the period. BlackRock Fund Advisors raised its position in shares of OncoMed Pharmaceuticals by 1.9% in the second quarter. BlackRock Fund Advisors now owns 839,388 shares of the biopharmaceutical company’s stock worth $10,333,000 after buying an additional 15,990 shares during the period. Iguana Healthcare Management LLC raised its position in shares of OncoMed Pharmaceuticals by 11.5% in the second quarter. Iguana Healthcare Management LLC now owns 632,200 shares of the biopharmaceutical company’s stock worth $7,782,000 after buying an additional 65,175 shares during the period. Vanguard Group Inc. raised its position in shares of OncoMed Pharmaceuticals by 5.2% in the second quarter. Vanguard Group Inc. now owns 632,093 shares of the biopharmaceutical company’s stock worth $7,781,000 after buying an additional 31,165 shares during the period. Finally, Cannell Peter B & Co. Inc. raised its position in shares of OncoMed Pharmaceuticals by 37.6% in the second quarter. Cannell Peter B & Co. Inc. now owns 289,528 shares of the biopharmaceutical company’s stock worth $3,564,000 after buying an additional 79,125 shares during the period. Institutional investors and hedge funds own 30.66% of the company’s stock.

About OncoMed Pharmaceuticals

OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.

5 Day Chart for NASDAQ:OMED

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